Hello,
Do you have research on competence successors of family firms?
Can you identify the latest research carried out in this field?
Can you identify publications on the competence of the successors in the succession process?
Here are two excellent examples of highly successful small family owned businesses that have achieved various national awards:
1. Leros Technologies www.leros
2. Sonex Enterprises www.sonex
David
A very interesting question indeed. Unfortunately I cannot help you with theoretical evidence.
From pratical experience (I am a MD (Managing Director) in a large family-owned industrial company) I can tell you that you have to look at two possibilities:
- successor coming out of the family itself or at least married to in the next generation
- company changes from family MD to employed MD (not connected to family)
In both cases I personally would say that the entrepreneurial spirit is the Top 1 feature to be successful. Everybody can run a company when the market and customers go right. But maneuver a company through difficult times or expand into new sectors successfully is the art. Most of the MDs believe they can do it but then why do so many fail?
Another point is the objective. I always say: a family MD is praised for the 70% decisions he was right about, an employed MD is criticized for the 30% he was wrong. Therefore an employed MD is usually more risk-adverse because (out of his personal view!!!) he looses more since the job is all he has.
I like both of the above thoughts about "Do you have any information about research of successors competence in family business?" You might also explore the relations between the general concept of 'successors' and the more specific concepts of apprentices, mentors, and stakeholders. It seems that a successor (general) should over time be brought up as an apprentice being mentored and even coached correctly. They then will become more skilled stakeholders. This si what happened in the above undermentioned 2 examples I submitted.
Thank you for your answers. Your opinions are inspiring to me. In Poland we have many examples of successful succession processes. However, I am looking for pattern (model) skills of development for potential successors of family businesses. If you can help me where can I find such a model I'll be happy. Now I build a model based on my research, but I need a theoretical support in this area.
You may wish to search online for papers about apprenticing, mentoring and coaching. There are quite a few out there.
The outputs from this group could be of relevance: http://www.cyfe.unibg.it/en/
I've wrote about two Brazilian cases: TAM and Azaleia. Both had their founder lost with 60 years and with no succession's plans.
Coroamento do Processo de Sucessão da Azaléia mediante uma operação de aquisição. UFC: Revista Contextus, 2010.
It's easy to access the paper in Internet.
Thanks.
Hi, Look at my articles, there are few articles about your topic....I have done reorganization in that field...
Dear Ewa,
Walther's case is an example about competence of successors. This example shows the influence of family environment/context on success. Major successful decision may not be taken by MD himself but may be a collective decision of all experienced Executive in the family. these collective decision may be always better than a decision of single MD.
From the above case we can hypothesize that 'Strategic decisions of a family businesses are always collective and would be better non-collective decisions'.
Upa Sri Lanka
Dear Eva,
Look at my articles in ResearchGate, there are few articles about successors in Galician Family Business.
If you need something else, send my an e-mail.
Susana Barbeito
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